--"We intensively negotiated with our parent company in South Africa in the past weeks," Gunnar George said at a news conference in Vienna, according to Reuters. "We found a solution that secures us liquidity for the next 12 to 24 months."

--Shares in Steinhoff tumbled in December after it disclosed accounting irregularities in its 2017 results and said it will have to restate its 2016 financial accounts, Reuters reports.